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Phoenix Financial Specialists Overview: Phoenix Financial Specialists is a California based company, which specializes in creative finance and fast funding for a wide variety of projects. In this brief overview of PFS you will find out about the early history of the company and how it came to be where it is today. PFS began with venture capital.
In the late 1980's, Eric Lerman took over Coventry Financial Corporation, an abandoned corporation that had never shown a profit, but was set up to advance. From the first quarter that Eric Lerman ran CFC, the company not only cash flowed, but profited as well. The local media was enamored with Eric Lerman dubbing him "the humanitarian trustee" in one article in the Contra Costa Times, after an interview with him about the rising rate of loan defaults and foreclosures that was sweeping across the nation. CFC had handled one mortgage company's hard cases and in fact, had reduced their rate of foreclosure from 22% down to 9%. This made many private investors more comfortable with hard money funding, and saved many a project and many property owners from loss and foreclosure.
PFS has raised hundreds of millions of dollars. PFS has provided for numerous projects and properties, many of them in hard areas of the world and/or in hard financial situations such as foreclosure, bankruptcy, receivership and hostile takeover. Eric and Sandra Lerman funded the renowned Phipps Ranch one day from foreclosure sale with private investor capital and their own money as well. Many Presidents and celebrities have visited this environmentally conscious operation. But they were in deep and did not qualify for any program or conventional funding. Private money and the Lermans saved them. They successfully funded the Kevin Bacon subdivision project, the Royal Stahl Rest Home, Oak Park Cemetery and Crematorium, and such other projects as property development, venture capital, income producing property, acquisitions and many more as a matter of public record. It took only four days to raise $65,000,000 USD for acquisition of a portfolio. It only took ten days to raise $32,000,000 USD for a stalled project that had too little protective equity to attract any interest, until a loan was combined with JV money. It usually takes a couple days to achieve a viable funding offer, a couple weeks to negotiate a firm funding commitment, and the Lermans have done overnight fast funding, such as the famous Phipps’ Ranch of California, one day from foreclosure sale. Other funding and collateral arrangements include the following, (partial list): Arranged $300 M funding and $ 1 B in collateralized assets for an oil and gas land acquisition project located in Texas, USA. Mission Statement: We at Phoenix Financial Specialists are committed to provide the best available opportunities for our clients. We will educate and protect our clients, our brokers and our investors. We will utilize our vast in-house and external resources to offer our clients and their projects the best information and the most effective process for achieving our common goal. If a project achieves collateralization with PFS, then it is our belief that it should be funded. We are committed to provide realistic strategies and solutions, so that our clients can receive the full benefit of our experience, our expertise, and our resources. |
In the mid-1980s, the Lermans were busy funding through their mortgage company. Through their base of private investors they had been a direct source of funding for hard money and distress deals. Although they now specialize in challenging projects, global regions and creative solutions, the Lermans are still well known for their expertise and effectiveness on hard money and distress deals. The Lermans specialized strictly in fast funding requests. When they were with Lerman Mortgage, Eric and Sandra were the top producers throughout their term with the company. While loans were coming in a steady stream, none of the agents had any funding. In fact, the broker/owner himself did not have enough funding to keep up with the demand. Eric and Sandra Lerman produced more investor capital by themselves than the other twelve agents and the seasoned broker combined. 
PFS is the contracted exclusive underwriter for several large investors. PFS has the responsibility to review and report on projects and properties under consideration for funding, advisement and joint venture arrangements. PFS assists clients and investors to expose project opportunities, negotiate commitments, help to structure terms and conditions, and ultimately recommends the closing. PFS advises their clients every step of the way, one step at a time. Analysis and detailed advisories are available at a higher level for project planning, trouble shooting and to maximize opportunities. PFS operates on a global level. PFS underwrites debt service and joint ventures, most often utilizing their in house asset base and contracted investors. PFS is proud to offer opportunities and arrangements that others cannot. PFS is a resourceful and legitimate source of creative finance, fast funding and high-level advisories.
